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Financial Cycles - Sovereigns, Bankers, and Stress Tests (Hardcover) Loot Price: R3,413
Discovery Miles 34 130
Financial Cycles - Sovereigns, Bankers, and Stress Tests (Hardcover): Dimitris N Chorafas

Financial Cycles - Sovereigns, Bankers, and Stress Tests (Hardcover)

Dimitris N Chorafas

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Loot Price R3,413 Discovery Miles 34 130 | Repayment Terms: R320 pm x 12*

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As financial positions expand, the economy becomes more vulnerable to adverse and unexpected developments taking place outside the six to seven year business cycle. Over 50 years ago Nikolai Kondratieff developed the theory of "The Long Waves in Economic Life", which incorporated an extended cycle of innovation and upward thrust, and changed our understanding of business cycles in financial settings. Financial Cycles concentrates on two areas that have thus far been omitted from mainstream economics. The first is the impact of the longer term financial cycle; the second is the beginning of de-globalization as the world enters an era of iron-glad economic blocks. Chorafas argues that to overcome the more narrow limits of the business cycle, we need to go beyond its traditional six to seven year focus and address the longer term. This includes the building-up and running-off of economic risks characterizing the financial cycle, as well as the appreciation of forces underwriting both its growth and its decay. An ever-increasing public debt and the behavior of the banking industry are two principal reasons why the structure of analysis characterizing the previous financial cycle no longer fits present-day realities. A new methodology starts getting in shape, even if it still has to acquire political legitimacy.

General

Imprint: Palgrave Macmillan
Country of origin: United Kingdom
Release date: March 2015
First published: 2015
Authors: Dimitris N Chorafas (Deceased, former University Professor and Management Consultant)
Dimensions: 216 x 140 x 21mm (L x W x T)
Format: Hardcover
Pages: 242
ISBN-13: 978-1-137-49797-0
Categories: Books > Business & Economics > Finance & accounting > Finance > Banking
Books > Business & Economics > Finance & accounting > Finance > Public finance > General
Books > Money & Finance > Banking
Books > Money & Finance > Public finance > General
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LSN: 1-137-49797-1
Barcode: 9781137497970

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